Warren Buffett

It is not necessary to do extraordinary things to get extraordinary results.

Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.

If you are in a poker game and after 20 minutes you don’t know who the patsy is, then you’re the patsy.

It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently.

The rich invest in time, the poor invest in money.

You only find out who is swimming naked when the tide goes out.

Never invest in a business you can’t understand.

The rich invest in time, the poor invest in money.

Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.

October: This is one of the particularly dangerous months to invest in stocks. Other dangerous months are July, January, September, April, November, May, March, June, December, August and February.

It makes more sense to buy a wonderful business at a fair price than it does to buy a fair business at a wonderful price.

It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

Our favorite holding period is forever.

There are two times in a man’s life when he should not speculate: when he can’t afford it, and when he can.

Successful investing takes time, discipline and patience. No matter how great the talent or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant.

The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.